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Obama’s Fiscal Cliff Plan Adds $8.6 Trillion To The Deficit…
#1
Quote:"President Obama's 'Plan' Adds $8.6 Trillion to the Debt," the minority side of the Senate Budget Committee contends. Here's a chart put together by the Republicans on the committee to explain how Obama's plan adds to the debt:

[Image: image001_0.preview.png]

The $400 billion in deficit reduction would be achieved by a $1.6 trillion tax hike, which Obama has proposed as part of the "fiscal cliff" deal.

With Obama's latest plan, debt in 2022 is expected to be $25.4 trillion; otherwise, in ten years, it is expected to be $25.8 trillion.

"With the adoption of the Budget Control Act (which immediately raised the debt ceiling $2.1 trillion in exchange for $2.1 trillion in spending cuts over 10 years), the United States is presently on course to add $9 trillion to the gross federal debt by 2022," write the Republicans on the Senate Budget Committee.

http://www.weeklystandard.com/blogs/obam...66402.html
It's the "BILL OF RIGHTS" not the bill of "needs"
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#2
middlefinger;52780 Wrote:
Quote:"President Obama's 'Plan' Adds $8.6 Trillion to the Debt," the minority side of the Senate Budget Committee contends. Here's a chart put together by the Republicans on the committee to explain how Obama's plan adds to the debt:

[Image: image001_0.preview.png]

The $400 billion in deficit reduction would be achieved by a $1.6 trillion tax hike, which Obama has proposed as part of the "fiscal cliff" deal.

With Obama's latest plan, debt in 2022 is expected to be $25.4 trillion; otherwise, in ten years, it is expected to be $25.8 trillion.

"With the adoption of the Budget Control Act (which immediately raised the debt ceiling $2.1 trillion in exchange for $2.1 trillion in spending cuts over 10 years), the United States is presently on course to add $9 trillion to the gross federal debt by 2022," write the Republicans on the Senate Budget Committee.

http://www.weeklystandard.com/blogs/obam...66402.html

Is there any way for this to end well? I don't see how it possibly can at this point. The debt can never be paid off in real terms. A hyperinflationary period followed by a reset is the only plan that makes any sense and it won't be pleasant. The intentional destruction of our currency and the theft from savers via inflation makes me so mad I want hit someone, but most of the country doesn't care, which is pretty damn frustrating.
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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#3
Deal_me_in;52789 Wrote:Is there any way for this to end well? I don't see how it possibly can at this point. The debt can never be paid off in real terms. A hyperinflationary period followed by a reset is the only plan that makes any sense and it won't be pleasant. The intentional destruction of our currency and the theft from savers via inflation makes me so mad I want hit someone, but most of the country doesn't care, which is pretty damn frustrating.

Great question. We went from something like a ridiculous $500 million deficit when W left office and just 4 years later we've tripled that? Now we're projecting $25 trillion deficits in the near future and quibbling about a few billion here or there. Why stop at $25 trillion? Let's go for $50 trillion, maybe even $100 trillion, just so we can get this party started sooner. Free shit for everyone as long as the gravy train lasts!
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